America News Agency

In May, the unit value index for exports remained unchanged, while the index for imports saw a 1.0% increase on an annual basis. Notably, the index increased by 2.7% in food, beverages and tobacco, decreased by 4.7% in raw materials (excluding fuel), increased by 11.3% in fuels, and decreased by 1.4% in manufacturing industry (excluding food, beverages and tobacco).

The overall export volume index compared to the corresponding month of the preceding year increased by 11.3 percent in May. Compared with May 2023, index increased by 11.6 percent for food, beverages and tobacco, increased by 10.6 percent for crude materials (except fuels), increased by 13.3 percent for fuels and increased by 10.3 percent for manufactured goods (except food, beverages and tobacco).

As compared with the corresponding month of the preceding year, the overall import unit value index increased by 1.0 percent in May. Index decreased by 3.9 percent for food, beverages and tobacco, increased by 4.7 percent for fuels, decreased by 4.7 percent for crude materials (except fuels) and decreased by 0.2 percent for manufactured goods (except food, beverages and tobacco).

In May, the overall import volume index compared to the corresponding month of the preceding year decreased by 11.2 percent. Index decreased by 20.3 percent for food, beverages and tobacco, decreased by 7.1 percent for crude materials (except fuels), decreased by 5.9 percent for fuels and decreased by 5.9 percent for manufactured goods (except food, beverages and tobacco).

The calendar and seasonally adjusted export volume index which was 150.3 in April 2024, increased by 5.7 percent, to 158.9 in May 2024. The calendar adjusted export volume index which was 142.6 in May 2023, increased by 11.3 percent, to 158.6 in May 2024.

The calendar and seasonally adjusted import volume index which was 135.7 in April 2024, decreased by 13.0 percent, to 118.1 in May 2024. The calendar adjusted import volume index which was 143.2 in May 2023, decreased by 14.0 percent, to 123.2 in May 2024.

Terms of trade is calculated by dividing the export unit value index by the import unit value index, then multiplying the result by 100. While terms of trade was 87.3 in May 2023, it decreased by 0.8 points to 86.5 in May 2024.